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get obama and we get the multitrillion-dollar deficit, the u.s. bond market blows up and takes the stock market with us. >> fair enough. i agree with that. but i've already called the election for romney. at least 52-48. as long as obama dent get past 48%, he's toast. and romney's going to win. but mike holland, financial conditions are easy, maybe too easy in this country. but the united states, europe and china, financial conditions are easy and getting easier. the world economy -- i know the imf said we're having a planetary slowdown. i don't know why that's any news. we already knew that. but i don't think we're having a planetary recession, mike holland. i think that's the thing that's yesterday's story or four years ago. so right now, go ahead, take some profits off the table. that's all i see going on here. take some profits off the table. get ready to come right back in and buy them. >> i think, larry, we are looking at new highs by the end of the year in the u.s. stock market. i think the u.s. economy a year from now is going to reflect just what you talked about, anim
what you see. i don't see it getting worse, but i want to hear what you see. >> i see the u.s. economy improving slowly because we're basically not an export economy as much as china is. i see china continuing to worsen. you can't believe their numbers, but if you look under the numbers you'll see they're all eroding. if you look at what companies tell us, they're all eroding. and buying, they have been stimulating. fixed asset investments up 22% year over year. that's mind-boggling. you look at europe, austerity's going to hurt. 2013's going to be a year to go away from europe. you've had big gains there and stay with the u.s. so i see one economy, the biggest economy in the world, improving. if romney gets in, i think then we go into hyperdrive in the u.s. because it's still got to be jobs led and we don't have those jobs. >> what's your favorite investment right now, steve weiss? >> my favorite investment, my newest investment is i bought j & j. they have a new ceo. i think it's been mismanaged for last decade or so. the guy with the previous guy was on an acquisition tear every day
the response to the terrorist attack on the u.s. embassy in benghazi. cnbc's own john harwood has the latest. good evening, john. >> good evening, larry. mitt romney tried to build on his successful debate last week by talking foreign policy today and attacking president obama as simply not someone leading. >> i know the president hopes for a safer, freer, and more prosperous middle east allied with us. i share this hope. hope is not a strategy. >> we don't know if that line is going to work, but we know from new polls out today he's made significant headway since the debate. puts a lot of pressure on the vice presidential debate later this week. we'll talk about it at athe bottom of the hour. >> we will see you later on that very topic. also this evening, one battleground state, michigan, will vote on a state constitutional amendment to allowing collective bargaining, unlimited wage increases, and unchecked union power. michigan's governor rick snyder says how it will disrupt his state. they paid hundreds of thousands to a chicago consulting firm for training sessions where employees chant
, it's something akin to what's been supported by overwhelming majorities in the u.s. population. and larry, here's the leverage. the leverage that the republicans handed president obama is if congress does what it does best, then we get the reset. so the president's going to put this plan forward and americans will react positively to it. >> dick armey, look, obama has already signed one version of this tax cut. what i see is an election year petulence on the part of president obama. i think that's why he's going to lose this general election. >> absolutely right. and, david, bless your heart, you and i both know that president clinton would have been and was at the table respectfully negotiating with a sense of knowledge and understanding of the depth of the budget and where the massages could be made. the only impediment to the project and the one that he always had to be fighting off, is the vice president on his left always trying to pull him back when he tried to get to a good place. this president clinton knew how to sit at the table and work things out. he would not have
but certainly u.s. importers, certainly very sensitive to the prices they pay for chinese goods. certainly u.s. exporters like the tech something for which has been hurt. the dollar fell today. i wouldn't say it was one-to-one relation. a lot of of other things going on in the sector today. >> romney has been a china basher. they've both been china bashers but romney has been more vocal at it. what about the banks? want to just get you quickly. romney is against dodd frank. but what he really is against is too big to fail. and he said that at the debate last night. now, does that damage the outlook for some of the new york banks that romney said got kissed by too big to fail? >> i'm not so sure about that. i think that if you take a look at how this regulation is, there's a big question mark around it. i think the greater clarity as someone takes a look at this and begins to pull it apart and decide what are the good parts and the bad parts i think even for those big five they'd be better off with that clarity around what the regulatory and legislative environment truly is going forward. so i
'easter and be a massive storm with massive impacts across the northeastern and mid-atlantic parts of the u.s. i'll have the story from the weather channel in just a few minutes. >> all right thanks very much. but first up, the cia is denying a report that it refused to help its operatives on the ground the night of the benghazi attack. cnbc eamon javers has more on this one. good evening. >> reporter: good evening. the cia is pushing back aggressively against these media reports. let me bring you what the cia is saying this evening. they say we can say with confident that the agency reacted quickly to aide our colleagues during that terrible evening in benghazi. moreover no one at any level in the cia told anybody not to help those in need. claims to the contrary is inaccurate. he went on say how many officer on the ground fared that evening. the cia pushing back make it clear that the agency didn't tell anyone who was involved in that attack on that compound not to go to the aid of their comrades. >> one quick question. does that leave the door open, the way that cia response was written, that some hi
's a little bit better in the u.s. certainly better in the u.s. than it is in europe. and in terms of the rate of decline in asia, it's reasonably steep. and we're still inching ahead. but it's inching. >> all right. that of course was warren buffett on cnbc's "squawk box" this morning. question. is the u.s. economy inching ahead like he says, or are we inching toward a recessionary year-end tax hike? here now we welcome back michelle gerard, senior economist, managing director with rbs, and david malpass, senior president and former deputy assistant treasury secretary. inching ahead, michelle. and what happens if we run smack into a tax hike? >> well, that's it. we are moving ahead at around a 2% pace in the third quarter, and i think that's where we'll be in the fourth quarter. but you're right. it doesn't matter because if the full fiscal cliff were to hit, and we're not just talking about the bush tax cuts, we're talking about the amt, which is really just as much of a drag as the middle-class tax cut, the payroll tax hike going -- or cut going away, unemployment benefits going away. if al
because you're negative and you'll earn zero. keep your money in u.s. government bonds which yield about 1.7 or 1.8%, adjust it for inflation and taxes, and that instrument doesn't long at 1.7% and 1.8%. >> so you're not a big seller? you know the issues as well as anybody else. you have a sluggish economy, housing may be doing a little bit better, but business is not investing right now. you have earnings way below what people expected. you have revenues way below. the stock market in the throes of a 3% correction. even before we get to the election-year politics and shenanigans, just right now, how long do you think this earnings correction in stocks will go on? >> well, i think the main reason why we have moved into a zone of neutrality in our investment view is because we think the profit cycle is peaking. having said that, basically the stock market is still relatively undemanding in its valuation. i don't want to sound like a statistician. to some extent, all of us in the stocks business has to be. but the p/e averaged about 15 for the s&p. in that same period, the u.s. government is
. if washington can get its act together to bring u.s. corporate tax rates. . if you want to do the romney boom just stick to the coal and defense stocks. if you want to do it safe, coal defense stocks. >> what about banks and what about cyclical retail? that's the last one. >> i did the cyclical retail. health care, you know, it's a difficult thing. >> all right. gentlemen, i'll leave it there. zack carrabell, thank you very much. lee munson, up next on kudlow, the nobel peace prize gets awarded to the european union and it's the nutiest thing i've ever heard unless you're in love with bureaucratic socialism and unfortunately, jesse jackson, jr., getting invest gaited by the fbi and we'll have that and the breaking headlines when "the kudlow report" returns. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550
's chase by accusing the white house of skewing the data to help president obama. earlier on cnbc, u.s. labor secretary fired back with this response. please take a listen. >> these are our best trained and best skilled individuals that have been working in the bls and it's really ludicrous to hear that kind of statement. >> here now is the legendary jack welch, former ge chairman, ceo and great friend of "the kudlow report." it's great to see you. i don't feel like defending obama, i don't feel like defending the labor secretary but i got to tell you, i worked in the white house under reagan, omb, you can't touch those numbers, jack, you can't touch those numbers before they're published. >> larry, look, this election is too important to have it hinge on one number. we got this number of 7.8 today, below where the president came in and we have assumptions. what i wanted to see and there's a real debate about this number. larry, the private sector household number, which is done by calling 50,000 people in the hundred plus million population for workers came in with a number of 873,000
special guest. also this evening, the u.s. embassy in yemen was attack. expect the consulate attack in benghazi will be brought up in the debate tonight. neither president obama for vice president biden has faced the press with any tough questions about what did they know and when did they know it about bengz? and how dare team obama call this a political issue stirred up by republicans. that's remarkable. first, take a look at this. last week, the real clear politics electoral map had the president holding on to 251-181 electoral votes lead. today the map flipped. five states went from leaning obama to a tossup. that's michigan, new hampshire, pennsylvania, wisconsin and ohio. so it's now 201-181.. it's the narrowest electoral margin yet. 50 electoral votes erased from the obama side in one week. he spent too much time chasing big bird, didn't he? this evening paul ryan has the opportunity to keep this momentum going in his debate with vice president biden. cnbc's own john harwood is in kentucky. good evening, john. welcome. >> reporter: good evening, larry. it is going to be a big
employment numbers with 7.8% unemployment were kind of made up. larry, we have lost the life of a u.s. ambassador. we have lost the staff around the world who are trying to figure out and deserve to know what happened with this. we are five weeks out of this. we still do not have answers plenty of indicators were there. do you think this is going to hurt the president's re-election? >> yes, i do. >> i doubt it very much. i think in the district they weren't going to vote for him anyway. the person who is making stuff up is mitt romney's tax plan that raises taxes on people to give millionaire's a break. >> that is wrong too. >> we took the unemployment numbers. >> that is truly ridiculous. >> i got to tell you. i'm not with you on that one. i think the unemployment situation is bad. howard, i have to tell you, this is different than the original 9/11. he has to come clean on this. he is not making sense on this at all. >> he want to do the right thing for the united states of america. get off this stuff. >> he should man up and accept responsibility for that cock and bull story. >> th
. maybe not. what is the hint here? us focus was not even down 1%. you saw u.s. companies doing relatively better and this was all from a slowdown in asia and china. the european influence has been getting worse not better. i want to walk through brian kelly's point. ben bernanke, how important is liquidity to the market. let's start there. is it bernanke driving stocks up? i don't mean today we have had almost a 30% rally. i think profits are the issue. all of the qe stuff, it has to follow up with profits. profits have been vulnerable for a while. we are in the swors tworst inve strike. i don't think this is a time to panic. china is still growing. but, although there is a slowing of trade growth, when the vix was below 14% we told people to buy it with both hands. we told people to take provilfi. none of you are rock bottom bears. >> not unless obama get re-elected. it brings in romney and the federal reserve board. i'm going to leave the treasury alone. if romney is elected for president, first of all, glen hubbert, gregory man cue and john taylor, a third distinguished economist, tayl
the killer storm called sandy hit the northeast. u.s. death toll is now at least 64. a second new york city hospital, bellevue, has been evacuated because of power and flooding issues. >> lower manhattan still a crippled zone. the markets were able to open today, but there's still flooding damage down there and also very dark streets. >> so in the metropolitan area, the recovery is a struggle. the availability of electricity to run the traffic lights, pump the gasoline, is now prime need. 6.1 million utility customers are still without power. individuals and businesses alike. >> public transportation slowly coming back online. some subway services in the city, some commuter lines in new jersey, westchester, and long island will run tomorrow. >> commuters coming into the city by car must have three people in each car after 6:00 a.m. >> and the airports are opening, but it's difficult to get there. delta, a key operator in the northeast hopes to start flights from laguardia tomorrow. >> the rebuilding does begin, but problems persist. let's get right to our team coverage, starting with scott
moemds committee demands the resignation of u.s. ambassador susan rice, we're going to also ask him whether attorney general eric holder must go now that dozens more guns have been found and hundreds more deaths have been caused by those guns in the fast and furious debacle. the real losers in this was mexico. it's an incredible story and it gets worse and worse, mr. king is going to join me later. >>> up next, the obama care supreme court? a they are back on the court with blockbuster cases. free market capitalism is the best path to prosperity. none of this bernanke stuff, i can't stand it. we'll be right back, more to come. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. t
are making a comeback. would i say we're starting to see good strength in the u.s., and certainly i always believe we need to have strength in the military, so would i actually say reagan's speech actually in some ways mirrors what the president has been saying. >> do you agree with that, tom stemberg, and are you satisfied with the rate of economic growth? >> larry, i don't see how you can depict an economy that's growing at 2% or less as thriving. with 23 million americans unemployed or underemployed, trillion dollar deficits that we have to turn to china each and every day to borrow money to finance that. how do you think china looks at us, like beggars on the street. >> it's almost like, robert -- >> it's amazing that everybody is using this u6 number that's never talked about. the unemployment rate 17.8%. it's come down dramatically from 10%. >> non-farm payrolls are growing very, very slowly and that's the generic measure. i don't want to get into the weeds on that. here's what worries me. if this country grows at 2% per ann annum, as we have for three years, if this is our so-called
. the imf worried that the u.s. and japan could lose their safe haven status. it is not supposed to be a good season. you have guys dressed up in nazi uniforms and that is horrible. ge german chancellor said greece was going to stay in the european union. i recogard her statements as bullish. >> i think we have the tools in place. had we've seen these things in place a year ago, germany is going to get these things sorted. >> that is a great point. >> stephanie, you think there is something out there that ip v t investors missed that would be bull issish bullish. they continue to stimulate their economy. they announced the liquidity program and this comes weeks after the largest in history. it began in june. so, i think this coupled with the rrr cuts with the interest rate cuts that we have seen this year, i think you are going to see a stableation in china and the 7.8% growth in china, maybe it is actually pretty accurate. >> larry, following up on that. we had young brands and they had very strong numbers. so, there is another support point that china seems to be stableising.
contribute to the u.s. government. >> so you buy the romney tax reform plan but you don't buy the argument made by team obama that it's just tax cuts for the rich and the middle class. obama is saying tax hikes for the middle class and tax hikes for the rich. >> it's basically you want a growth policy. at the end of the day, you want to make incentives really an important part of whatever the tax policy is. you want people to work hard, even myself at age 75, i love wo working hard and talk about the senior issues. >> what about the seniors? >> seniors have paid the price in this whole recession. what this administration has done is delegatedny responsibility to the federal reserve. the fed, in response, any only game in town, has lowered rates down to zero, those of us, like you, who have saved 35, 40 years, have nothing to show for it now. we have savings accounts, cdc, money market funds and get virtually no interest on that and the inflation. inflation in the last four years has been something like 8% total over the last -- >> 2% a year. n negligible in effect. you blame bernanke. it's
was serious and the suspect traveled from bangladesh on a student visa to try to strike with the u.s. he's identified as quauzi mohammad nafis, transferring to an english as second language school in new york when the not was uncovered. homeland security agents have been following him since at least june of this year. following his every move as he went about buying i am moan yum nitrate. to give you a comparison, the world trade center bombing back in 1993, that was a 1,000 pound bomb where six people were killed and 1,000 were injured and that bomb was set off in a parking garage, not on the crowded streets of lower manhattan. ray kelly briefed the press about this when asked about the suspect's aspirations and capabilities. >> i wouldn't call it inspirational when you pick up 50 20-pound bags of immoan yum nitrate and bring it to a site of a major federal reserve facility and try to detonate it. that goes way past inspirational. >> they have the suspect on tape saying he wanted to destroy america and was a follower of our beloved sheikh osama bin laden. >> our beloved. thank you, jona
refiners are accountable for 6.6% of total gasoline production here in the u.s., but keep in mind as storms keep the people off the street, demand for gasoline goes down. lebeau and associates say demand could be down about 1.5 billion barrels, even, if the refineries get up and running or production should be down by 1.5 million barrels provided the refineries aren't damaged, and they can't get up and running. la lastly, most notably colonial is shutting down its pipeline, again, because of damage from the storm. >> we're having trouble with mary's shot as you can tell. taking a lot of hits to mary's shot. thanks so much, mary. we'll dip into our sister network, the new york affiliate for the nbc family. they are covering some of the damage that we're seeing in the new york city area. take a listen. >> a partial crane collapse to where we are now which is 14th street and eighth avenue. the winds have picked up dramatically. i literally could not stand in the sidewalk. there is -- there are pieces of metal from the front of buildings flying through the street. it's actually terrifying. peop
Search Results 0 to 19 of about 20